MReport August 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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10 | M R EP O RT MTECH in helping mitigate future cures. Cures can be aggregated by the number and size of cures, as well as location (e.g., city, state, country), vendor, loan officer, loan type, fee type and more, to zero in on causes and facilitate timely corrective action. "The integration of action- able intelligence and fee data in Empower is exactly the kind of innovation Black Knight has be- come known for," Gagliano said. "By addressing lenders' urgent need for profitability and account- ability in real time and at scale, the Fee Cures Suite helps lenders unlock previously inaccessible value in data they already work hard to collect and report." Assisting the Verifi- cation Process DATAVERIFY'S NEW AI SOLUTION TO REDUCE PROCESSING TIMES D ataVerify, a provider of data verification, risk mitigation, and work- flow automation services, has announced the availability of DataVerify Assist, the company's new artificial intelligence (AI) lending automation solution. DataVerify Assist was designed to help lenders with the assem- bly of loan documentation and the automation of classification, extraction, and versioning. The DataVerify Assist tech- nology, powered by TRUE, is designed to be a touchless automation solution that can help lenders reduce their turn times by accelerating the document identifi- cation and data extraction process. DataVerify Assist uses computer vision and machine-learning tech- nology to analyze and organize data and deliver verified results in minutes, reducing the processing time. "Lenders are facing a growing list of concerns as they go about digital transformation," said Brad Bogel, President of DataVerify. "They're looking for solutions that will significantly improve their workflow, reduce the need for human intervention, and continue to protect their portfolio." The addition of DataVerify's new AI solution is expected to advance many of the automa- tion tools that lenders are already using in their loan manufacturing process. DataVerify Assist boasts powerful data extraction accu- racy and patent-pending cross- validation technology to assist the lender by reducing potential compliance issues and allowing for automated reconciliation of structured data to source docu- ments. "Automation within the lending industry is important now more than ever, and AI has become a critical capability in driving this transformational industry need," said Dr. Ari Gross, CEO and Co- Founder of TRUE. "I am thrilled by the work we've done with the DataVerify team. Together we are creating the industry benchmark in AI-powered loan automation, which will ultimately reduce loan manufacturing time, cost, and risk for all lending institutions who leverage this new and innovative product offering." LOS Efficiency for Lender Collaboration QUALIA UNVEILS CONNECT FOR MORTGAGE LENDERS D igital real estate clos- ing platform Qualia has announced the release of a new mortgage lender edi- tion of Qualia Connect to its platform, a comprehensive suite of features that provides lenders with complete control over how they collaborate securely with any title, settlement, or escrow partner. Connect integrates di- rectly into the mortgage lender's loan origination system (LOS) to enable more efficient, predict- able, and transparent closing experiences for lenders and their borrowers. According to STRATMOR Group's Mortgage Borrower Satisfaction Program survey, inac- curacies at closings can cause a harmful 81-point drop in a lender's borrower NPS, leading to loss of future business. These types of closing issues tend to increase when lenders are unfamiliar with how their closing counterparts operate and lack control of their preferred closing process. Qualia Connect's integration between the LOS and the nation- wide settlement ecosystem allows lenders to automate and standard- ize the way they work with any title company in the country. By doing so, lenders receive the visibility to remain ahead of costly delays and errors. Lending teams can also ensure that they maintain control of the borrower experience from order opening through post-closing. "Collaboration between every- one in the closing process remains very manual, inefficient, and unpredictable today," said Nate Baker, CEO and Co-Founder of Qualia. "We are building products that go beyond just digitizing old processes. Products like Connect work alongside the LOS to reengi- neer how teams work together in a way that fundamentally transforms how homes are bought and sold." Qualia Connect's LOS integra- tions and configurable automation engine, allow mortgage teams to leverage milestone-based or data- driven automation triggers to send title orders, request information, exchange documents, and provide progress updates. All information and documents received in return from the title company flow di- rectly into the lender's LOS—data auto-populates in the loan file and documents are uploaded to the appropriate folder. Rekeying information, "chasing down title," managing multiple portals, and digging through emails are no longer a requisite part of working with settlement providers. This integration also keeps sensitive in- formation out of email, protecting employees and borrowers from phishing attacks. Connect also includes a new reporting feature that provides lenders with visibility into their closing process across their entire loan pipeline for every title, settle- ment, and escrow partner. This provides lenders unprecedented opportunities to optimize their loan process. Lenders can monitor average turn times and fulfillment rates across all title providers, and track the status of each transaction in real-time to ensure timely closings, and receive early warning signals for loans falling behind. CRM Enhancing Customer Relation- ships INSELLERATE'S NEW SOLUTION ASSISTS LOS IN CLOSING LOANS I nsellerate, a provider of cus- tomer relationship manage- ment (CRM) and marketing automation solutions to the mortgage lending and real estate industries, has launched its new AgentConnect solution, geared to take co-branded marketing to a new level by increasing collaboration and transforming partner relationships via innova- tive automation and dynamic content. Insellerate has been working behind the scenes to provide this technology to help retail leaders in today's challenging purchase market. Through AgentConnect, thousands of retail Loan Officers are currently closing more loans through the Insellerate platform powered with AgentConnect. AgentConnect takes co-branded marketing to a new level by automatically delivering dynamic open house flyers, property web- sites, and landing pages instantly through MLS data in real-time, which is auto-generated and com- pliantly displayed, including Loan Officer's specific loan and pricing options. AgentConnect fosters relation- ships with partners through campaigns that drive results, while delivering full transpar- ency through the buyer/borrower journey. Insellerate's platform, powered with AgentConnect, enables Loan Officers to engage more effectively, resulting in higher lead conversion rates, lower origination costs, and more closed loans. Insellerate pro- vides access to critical loan infor- mation without using a computer or logging into a loan origination system (LOS), which radically improves borrower retention and conversion rates.

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